From the depths of the AGM Notice: Conversion of Performance...

From the depths of the AGM Notice:

Conversion of Performance Rights

(a) (Conversion on achievement of milestone) Subject to paragraphs (b) to (e) below:

(i) 6,000,000 Performance Rights will each convert into one (1) AUR Share upon AUR achieving a market capitalisation of $48 million for a period of 30 consecutive days within 3 years from the date of issue (Tranche 1 Performance Right); and

(ii) 6,000,000 Performance Rights will each convert into one (1) AUR Share upon AUR achieving a market capitalisation of $64 million for a period of 30 consecutive days within 3 years from the date of issue (Tranche 2 Performance Right). (each, a Milestone).

Now, that's 3m Wade Evans x 2 and 1m each of the 3 Directors x 2. FREE shares, and for what?

T1 shares issue when MC reaches $48m before the end of (roughly) 2020.

T2 shares issue when MC reaches $64m before, I think but not sure, end of 2023.

Come on, get angry. As at the 4 August this year the SP stood at 10c (maybe 10.5 even) for a while. The MC with an SP of 10.5c was at that time was about $37.9m, $10.1m short of the target. Assuming that all of the shares from the underwriting ag't have now issued (Resolution 12 seeks ratification of it), then there would then be 408m shares on issue. Assuming 10.5 regained = MC of $42.84m.

The more shares that get issued, then the bigger the chance of meeting the targets. Imagine having 3 years to meet the T1 target.

C'mon get angry! or just vote NO!